The Deloitte CFO Survey
The 2010 fourth quarter Deloitte Chief Financial Officer Survey, published on 4th January 2011, shows that Optimism among the UK’s largest companies rebounded in the fourth quarter of 2010 with appetite for risk rising to levels higher than immediately prior to the recession. Fears of a double dip have abated from the levels seen earlier in the year.
Greater confidence and appetite for risk seem to have led corporates to shift from defensive to expansionary strategies. If 2010 was the year of balance sheet rebuilding and cost cutting, 2011 looks set to be the year in which corporates start spending again. Cost control has dropped from first to third priority for corporates. Introducing new products or services or expanding into new markets is the first priority for corporates in 2011. Even risk-averse CFOs rate this as a top priority for their business.
About the Deloitte CFO Survey
The Deloitte CFO Survey, launched in 2007, is a quarterly survey of Chief Financial Officers and Group Finance Directors of major UK companies. The Survey captures shifts in UK CFOs' opinions on valuations, risks and financing and has become a benchmark for gauging financial attitudes of major corporate users of capital.
Over 300 CFOs, mainly from FTSE 350 companies, have joined the CFO Survey panel. In the latest survey, covering the fourth quarter of 2010, 126 CFOs participated, including CFOs of 35 FTSE 100 and 45 FTSE 250 companies. The rest were CFOs of other UK listed companies, large private companies and UK subsidiaries of major companies listed overseas. The combined market value of the 94 UK listed companies surveyed is £690billion, or approximately 36% of the UK quoted equity market.
The Deloitte CFO Survey has been widely quoted in the media and is firmly established with the policymakers. The Bank of England has cited the CFO Survey several times in its publications such as the quarterly Inflation Report and the monthly Trends in Lending report. The findings have also been quoted in the minutes of the Bank's Monetary Policy Committee meetings.
Cpost control is still king: 2010 Q3 results
Caution rules: 2009 Q3 results
No return to business as usual: 2009 Q2 results
Amid the gloom, glimmers of hope: 2009 Q1 results
Priorities for 2009 - Cash, confidence, costs: 2008 Q4 results
Digging in for the Downturn: 2008 Q3 results
The Hunt for Liquidity: 2008 Q2 results
Corporates respond to the credit crunch: 2008 Q1 results
The credit crunch bites: 2007 Q4 results
Inaugural CFO Survey: 2007 Q3 results
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